Minsheng Education profit falls, plans more deals

Business | 19 Aug 2019 3:53 pm

Minsheng Education (1569), which operates 11 schools in the mainland, expects to acquire three colleges in Anhui, Hebei and Jiangxi province and explore more independent colleges in regions with large populations as the company's acquisition targets. Tuition fees will rise accordingly.

Net profit for the first half dropped by 7.8 percent year-on-year to 203.7 million yuan. Revenue for the first half-year grew by 66.4 percent to 526.4 million yuan (HK$586.1 million), benefiting from education reforms in the mainland.

 

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